Wind Point Partners has acquired Korea-based lens maker
Daemyung Optical Co. Ltd. No financial terms were disclosed.
DAEJEON, KOREA (November 4, 2015) – Korea’s second largest lens manufacturer, Daemyung Optical Co. Ltd. (DMO), announced today it has been purchased by Wind Point Partners, a Chicago based private equity investment firm. Details of the deal were not disclosed.
Wind Point Partners invested in DMO to expand products and market availability for VISION EASE, a leading ophthalmic lens manufacturer based in the United States. The new ownership will also expand DMO’s market reach into the North and South American markets that VISION EASE serves.
“DMO is a leader in high-quality cast lenses, which complements VISION EASE’s strength in polycarbonate lens manufacturing,” said John Weber, CEO of VISION EASE. “By expanding our offerings with these new, in-demand lenses, we will be a better partner to customers looking to improve their businesses results.”
Wind Point Partners supported this acquisition as part of its business growth strategy in the global ophthalmic lens market alongside VISION EASE, which they acquired in 2014.
“Daemyung Optical is a smart investment because it’s an established leader with a complementary product portfolio and an extensive distribution network,” said Nathan Brown, Managing Director with Wind Point Partners. “We look forward to continuing to grow VISION EASE’s business and capabilities through strategic acquisitions and the addition of new markets, and providing long-term leadership for DMO.”
About Daemyung Optical Co. Ltd.
Daemyung Optical Co. Ltd. (DMO) is the second largest optical lens manufacturer in Korea, and specializes in cast high-index lenses. It was founded in 1985. For more information, visit www.dmo.co.kr/eng/.
About VISION EASE
VISION EASE is a global ophthalmic lens marketer and manufacturer whose solutions empower individuals, businesses and society to be their best. The first to offer lenses that are now industry standards – including lightweight polycarbonate prescription lenses and sunglass lenses that filter high energy visible light – VISION EASE is a trusted partner to independent opticians, optometrists and ophthalmologists, and retail chains throughout the world. For more information, visit www.visionease.com.
About Wind Point Partners
Wind Point Partners is a private equity investment firm that manages commitments of approximately $2.5 billion. Wind Point partners with top caliber CEOs to acquire middle market businesses where we can establish a clear path to value creation. Additional information about Wind Point is available at www.windpointpartners.com.